How did Coalition miss this? IBRC inquiry languishes on loophole

THE Coalition partners deserve commendation for their overall handling of the economy in crisis. However, they have been less effective in other ways, most notably in dealing with the aftermath of the banking collapse and the subsequent attempts to find out exactly how it came about.

We have had a number of banking investigations, leading to — among others — the Honohan Report, the Regling & Watson Report, the Nyberg Report, as well as the Oireachtas Banking Inquiry.

In 2010 Central Bank governor Patrick Honohan found that there was a ‘comprehensive failure’ by the directors of Irish banks to maintain safe and sound banking practices.